Who doesn’t love looking at a hefty bank account?
It can bring a sense of security and relief when the numbers look good. But to keep that happy feeling, you’ll want a few tricks up your sleeve.
Try these tips and strategies so you can smile every time you log in to your bank.
Keep a money date
A healthy bank account takes some commitment. There’s no way around it; you’ll need a budget, one you visit weekly.
Now, we realize most people don’t like budgeting.
One poll by Clutch, a business-to-business ratings and review platform, found only 58% of Americans kept a budget, and even fewer keep up with it. So how do you keep from becoming a statistic?
Add a little fun!
When you sit down to do your budget, bring some of your favorite food and drink and a little music to keep things light. All money is behavioral. So, if your budgeting ritual brings a little pleasure, you’ll be more likely to do it.
Buy yourself some time
Now that you have a budget (and a weekly party date!), keep just enough cash on a debit card to handle your expenses. Then, sink your credit cards in a cup of water and freeze them.
The next time you go to buy something not in the budget, you’ll have time to think about it while the card thaws out! Sometimes all you need is a little time to stop the impulse to buy.
But, no cheating. Wipe all the instant fill-outs on your favorite online accounts. Oh, and no writing down your card number before you freeze it!
Get tuned in
As we said earlier, behaviors drive spending. And most behaviors are based on emotions. But, unfortunately, you can’t stop your feelings, and sometimes they are hard to control.
The good news is, you can recognize them and what they are doing to you. If you’re feeling sad or bored, try to find a healthy outlet like exercise or a hobby. Spending money when you are down will only make the problem worse.
Tuning into your emotions and having a positive plan to deal with them can go a long way to making you and your bank account happy.
Keep an eye on quality
It can be tempting to think that inexpensive items are the best deal every time. However, it’s important to buy things that will last, too. So it might be worth it to spend more on big-ticket items.
For example, you might want to buy that inexpensive car to save money. But what will it cost you in maintenance and repairs? Instead, you may want to consider a slightly more expensive vehicle that will last longer and is cheaper to maintain.
You can apply that to everyday things like groceries, as well. Whole foods along the store walls are less expensive and better for you than the processed ones in the middle aisles.
Saving money does take a little commitment, but you can still enjoy yourself along the way. With a bit of focus, you’ll be smiling every time you log into your bank account.